Trump Victory, Volkswagen Stop Doing Business in IRAN

Automobile maker Volkswagen will end almost all business in Iran. As per the report, the company is bowed under US pressure to stop all kind of business activity with IRAN but VW will still be able to do humanitarian business in Iran.

The decision was made after several round of talks between the German auto giant and the administration of President Donald Trump, said Richard Grenell, the US Ambassador to Germany.

In May, Trump pulled the US out of the deal it reached with Iran and five other countries in 2015. That accord lifted sanctions against Tehran in exchange for restrictions on its nuclear program.

Now, the US is reimposing those sanctions.

VW has scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years.